(Bloomberg) -- London financiers are keeping the faith that despite being left out of the Brexit trade agreement, their industry can win back access to the European Union in the next round of talks.
In a poll of hundreds of executives at banks, money managers and insurers by the consulting firm EY one week after Britain fully left the EU, 76% said they expected the EU would grant some form of equivalence decisions, opening the doors to more market access. Just 8% expected a more sweeping equivalence pact allowing London bankers to do many forms of trading, and 15% predicted no equivalence rulings at all.
The U.K. government said Tuesday that it will start a new round of talks with the EU on regulatory cooperation. The EU side has cautioned, however, that London shouldn’t expect quick decisions, and that the talks could drag on -- especially if the U.K. diverges from European rules.
While the U.K. started 2021 with an almost identical set of rules as the bloc following a post-Brexit transition period, British officials are contemplating changes in a number of areas.
Only 26% of respondents in the poll, which was conducted during a webinar, said they expected their firms to relocate U.K. staff to the EU this year. Only 3% said the moves would be significant.
“Many of the moves to the continent have already happened, and as we know, the numbers to date have been smaller than many forecast over four years ago,” said John Liver, a U.K. financial-services partner at EY.
Últimas Noticias
Debanhi Escobar: they secured the motel where she was found lifeless in a cistern
Members of the Specialized Prosecutor's Office in Nuevo León secured the Nueva Castilla Motel as part of the investigations into the case
The oldest person in the world died at the age of 119
Kane Tanaka lived in Japan. She was born six months earlier than George Orwell, the same year that the Wright brothers first flew, and Marie Curie became the first woman to win a Nobel Prize
Macabre find in CDMX: they left a body bagged and tied in a taxi
The body was left in the back seats of the car. It was covered with black bags and tied with industrial tape
The eagles of America will face Manchester City in a duel of legends. Here are the details
The top Mexican football champion will play a match with Pep Guardiola's squad in the Lone Star Cup
Why is it good to bring dogs out to know the world when they are puppies
A so-called protection against the spread of diseases threatens the integral development of dogs
